Exhibit 10.10
AMENDMENT NO. 3 TO AMENDED AND
RESTATED EMPLOYMENT AGREEMENT
THIS AGREEMENT is made as of the 24th day of March, 2003 (the
"Amendment") by and between BUCA, Inc., a Minnesota corporation (the "Company"),
and Xxxxxx X. Xxxxxxxxxx (the "Employee").
WHEREAS, the Company and Employee entered into an Amended and Restated
Employment Agreement dated as of February 17, 1999 (as amended to the date
hereof, the "Employment Agreement"); and
WHEREAS, the Company and Employee desire to make certain modifications
to the Employment Agreement.
NOW THEREFORE, in consideration of the premises and the terms and
conditions hereinafter set forth, the parties hereto agree as follows:
1. Section 1 of the Employment Agreement is hereby amended by
replacing the date "December 31, 2004" in the first sentence with the date
"December 31, 2005."
2. Section 3 of the Employment Agreement is hereby amended by
deleting, in its entirety, the table contained therein and replacing it with the
following:
Period Annual Salary
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January 1, 2000 to December 31, 2000 $335,000
January 1, 2001 to December 31, 2001 $375,000
January 1, 2002 to December 31, 2002 $400,000
January 1, 2003 to December 31, 2003 $500,000
January 1, 2004 to December 31, 2004 $525,000
January 1, 2005 to December 31, 2005 $550,000
3. Section 4 of the Employment Agreement is hereby amended by
deleting the second sentence thereof, and replacing it with the following
sentence: "For the years ended December 31, 2000, 2001, 2002, 2003, 2004 and
2005, the maximum percentage of such incentive compensation shall be 35%, 35%,
40%, 50%, 55% and 60%, respectively."
4. Except as is explicitly inconsistent, modified, supplemented or
amended by the express terms hereof, the Employment Agreement shall remain in
full force and effect.
5. This Amendment No. 3 to the Employment Agreement shall be
governed by, and construed under the laws of the State of Minnesota applied to
agreements made and to be performed in the State of Minnesota without regard to
the conflict of laws principles thereof. This Amendment may be executed in
counterparts, each of which shall be deemed an original, but each of which
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment
as of the day and year first above written.
BUCA, INC.
By: /s/ Xxxx X. Xxxxx
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Its: Executive Vice President,
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Chief Financial Officer,
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Secretary and Treasurer
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/s/ Xxxxxx X. Xxxxxxxxxx
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Xxxxxx X. Xxxxxxxxxx
